Ningbo Huaxiang Joint venture company with German side

February 24, Ningbo Huaxiang (002048.　　SZ) issued a notice, February 22, the company and Germany Schlemmergmbhcompany (hereinafter referred to as "Schlemmer") signed a joint venture letter of intent, the two sides agreed to invest 50% in China to set up a joint venture-Ningbo poem Lamb New Energy and water-saving drip Irrigation System Co., Ltd. (tentative name).　　German Schlemmer Company is a professional manufacturing company in the field of automobile line protection system, new energy and water-saving and energy saving system.　　Ningbo Huaxiang in March 2001 with the Schlemmer company on the Automotive Line protection system business joint venture set up Ningbo poem Lamb Auto Parts Co., Ltd., up to now, the company has been operating well, to the Chinese and foreign shareholders to bring a better return.　　The Ningbo Huaxiang and Schlemmer Company joint venture new company will be dedicated to solar heating and switching systems, as well as corrugated dropper water-saving irrigation system business, Schlemmer Company will invest in all relevant technology, Ningbo Huaxiang is committed to the promotion and development of the relevant market.　　The joint venture will be based in mainland China, and the Chinese and foreign shareholders will jointly develop the market in the Middle East, Southeast Asia and north Asia. Yesterday, Ningbo Huaxiang reported 14.28 Yuan, rising 2%.